Rivian’s CEO to take on expanded role as head of product development
NORMAL (25News Now) - The founder and chief executive officer of Rivian Automotive is taking on added responsibilities for the electric vehicle maker, which has a factory in Normal.
In a filing with the Securities and Exchange Commission (SEC), the company announced that RJ Scaringe will assume “direct responsibility for all product functions.”
“The product reporting structure includes Software, Autonomy, Design, Vehicle, Electrical, Propulsion, and Programs,” the company said.
The manager previously responsible for product development is assuming the role of executive vice president of vehicle engineering and propulsion. That person will continue reporting to Scaringe, the SEC filing said.
An earlier document filed in August with the SEC said Rivian’s Board of Directors raised Scaringe’s base salary to $1 million, from $650,000, plus approximately $15 million in company stock and stock options.
Scaringe is also eligible to receive an annual bonus equal to his base salary, according to the SEC filing.
Rivian employs about 8,000 people at its plant in Normal, and the company intends to break ground early next year on a second plant, to be located in Georgia.
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